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Saturday, apr 27
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Saturday, apr 27
Tag:
Chapter 11
Business
Covid-
19: Century 21 Files For Bankruptcy, Closing All Stores
Liquidation sales are under way at all 13 Century 21 stores after the company announced Thursday it filed for Chapter 11 bankruptcy protection. The impetus was a non-payment of approximately $175 million declined by the company's insurance provider as a direct result of losses during the COVID-19 pandemic, the company said in a press release. The off-price retail store in business for more than 60 years was left with "no viable alternative" to closing," the company's co-CEO Raymond Gindi said. "While retailers across the board have suffered greatly due to COVID-19, and Century 2…
News
Covid-
19: Retailer Closing Hudson Valley Location
A popular retailer has filed for bankruptcy and plans to permanently close nearly half its stores, including one in the Hudson Valley, after temporary store closures amid the novel coronavirus (COVID-19) pandemic. Kitchen goods retailer Sur La Table made the Chapter 11 filing late this week, saying 51 of 121 stores will close. The Seattle-based company, founded in 1972, brands itself as "the leading retail destination for those passionate about cooking and entertaining." The company announced it would sell its remaining stores and brand names to Fortress Investment Group. …
Business
Covid-
19: Retailer Closing Hudson Valley Location
A popular retailer has filed for bankruptcy and plans to permanently close nearly half its stores, including one in the Hudson Valley, after temporary store closures amid the novel coronavirus (COVID-19) pandemic. Kitchen goods retailer Sur La Table made the Chapter 11 filing late this week, saying 51 of 121 stores will close. The Seattle-based company, founded in 1972, brands itself as "the leading retail destination for those passionate about cooking and entertaining." The company announced it would sell its remaining stores and brand names to Fortress Investment Group. …
Business
Covid-
19: Chuck E. Cheese Files For Bankruptcy After Reopening Locations
The novel coronavirus (COVID-19) crisis has claimed another victim. Chuck E. Cheese, the popular entertainment and pizza chain that has been the place to go for children's birthday parties for 43 years, has filed for bankruptcy protection after the virus forced locations to shut their doors more than three months ago. The bankruptcy announcement came after the company began reopening some locations as the region begins recovering from the COVID-19 outbreak. As of Wednesday, June 24, 266 Chuck E. Cheese and Peter Piper Pizza restaurant and arcade locations had reopened in accordance with th…
Business
Covid-
19: Retailer J.Crew, With 450 Stores Throughout Nation, Files For Bankruptcy
Amid a plunge in sales during the novel coronavirus (COVID-19) pandemic, specialty retailer J.Crew has filed for bankruptcy. More Chapter 11 filings across the retail sector are expected in the coming weeks. J.Crew, which opened its first location in 1989, operates more than 450 stores throughout the United States. The company J.Crew, which was struggling financially before the pandemic hit, was acquired in 2011 by TPG Capital and Leonard Green & Partners for $3 billion. J.Crew said in a statement that it has filed a series of customary "first-day" motions with the Bankruptcy Cou…
Business
Payless Going Out Of Business, With Eight Westchester Stores Among Closures
Another iconic retailer is going out of business. Payless ShoeSource will be closing all of its 2,100 remaining stores in the U.S. and Puerto Rico. The chain had filed for Chapter 11 bankruptcy protection nearly two years ago, closing hundreds of stores as part of its reorganization. Liquidation sales start Sunday, Feb. 17 with all stores staying open until the end of March with many others remaining in business until May. Store closures in the Hudson Valley and Fairfield County are as follows: Hudson Valley Westchester County Burlington Shopping Center, Yonkers Cortlan…
Business
Fashion Retailer Charlotte Russe To Close Stores In Westchester, Rockland
Another traditional brick-and-mortar retailer will soon be shuttering its doors in the Hudson Valley. Charlotte Russe Holding Corp., which operates Charlotte Russe, a fashion brand for females filed for Chapter 11 bankruptcy protection over the weekend, impacted local stores. The company announced that it is planning to close 94 stores, including locations at the Jefferson Valley Mall in Yorktown Heights and Rockland Plaza on Route 59 in Nanuet. The stores at the Galleria Mall in White Plains and Palisades Center in West Nyack were not on the initial list of locations closing. Charlotte Ru…
Business
Hawthorne's Executive Diner Files For Bankruptcy
American Diner Group, Inc., which owns two popular eateries in Hawthorne and Yonkers, has filed for federal bankruptcy protection, according to multiple sources. The family-owned diners claim they were forced to file for bankruptcy because of an $837,000 U.S. Department of Labor judgment that was assessed last year for paying workers less than they had earned. American Classic Broadway Diner in Yonkers and American Classic Executive Diner in Hawthorne filed for Chapter 11 reorganization on May 2 in U.S. Bankruptcy Court in White Plains. “It is the debtor’s intention to immediately seek med…
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